Bitcoin breaches $94,000 for the first time

Bitcoin surged to a record high of $94,078 amid speculation about Donald Trump’s media company, Truth Social, acquiring crypto trading firm Bakkt.

This potential all-stock deal, reported by the Financial Times, and optimism surrounding BlackRock’s Bitcoin ETF options trading debut on Nasdaq fueled the rally.

Bitcoin has more than doubled this year, trading at $92,104 in Asian hours, and traders anticipate a more cryptocurrency-friendly regulatory environment under Trump’s incoming administration.

The global cryptocurrency market value surpassed $3 trillion, driven by renewed investor enthusiasm.

Analysts point to strong underlying buying momentum, suggesting further gains could spur additional investment as traders chase the rising trend.